The US finance building can be seen on January 21, 2025 in Washington, DC, from the Washington Monument on a cold winter day.
Kevin Carter | Getty pictures
The US debt and deficit problem deteriorated by President Donald Trump during the first month of office, since the budget deficit for February passed the 1 -billion dollar brand, although the financial year is not yet at half -time.
According to a declaration by the Ministry of Finance on Wednesday, the state expenditure was slightly reduced monthly, even though it was still far exceeded. The deficit amounted to a little more than 307 billion US dollars for the month, almost 2 1/2 times what it was higher in January and 3.7% than February 2024.
Records and expenses have set records for the month, said a financial spokesman.
For the year, the deficit in the first five months of the 2025 financial year was 1.15 trillion dollars. The total amount is about 318 billion US dollars more than the same span in 2024 or about 38% higher and sets a new record for the period.
The net costs for the financing of the public debt of 36.2 trillion dollars rose to $ 74 billion a month. However, the previous total interest payments from Netto Zins rose to 396 billion US dollars, just behind national defense and health. Social insurance and Medicare are the greatest costs in the US budget.
The deficit rose from 1.38 trillion dollars to 1.83 trillion dollars in the last three years of the former term of office of former President Joe Biden.
Trump has made the government's financial house priority since taking office. Since the takeover, he has created the Ministry of Government Efficiency. In addition to early pension incentives, the consulting authority has headed in several departments in several departments. A spokesman for the Ministry of Finance said there were still no obvious effects on the Doge efforts, but transferred further comments to the committee conducted by Muschus.
At the same time, Trump would like to extend the law on tax cuts and jobs that were cited during his first administration. While Trump has advertised growth that the tax cuts would bring, several think tanks say that the renewal of the law would also add 3.3 trillion US dollars to the deficit in the next decade.
Comments are closed.